Houlihan Lokey Advises Inflexion

Houlihan Lokey is pleased to announce that Inflexion, a leading European middle-market private equity firm, has agreed to acquire Primed Group (Primed), a specialist German provider of high-quality medical consumables and sterilisation services, from Paragon Partners, a DACH-focused private equity firm. The investment is being made by Inflexion’s Buyout Fund VI and represents Inflexion’s sixth investment in the DACH region. The transaction is subject to customary regulatory approvals.

Founded in 1946 and headquartered in Halberstadt, Germany, Primed designs, manufactures, and distributes certified single-use medical consumables. The business employs more than 450 people across a vertically integrated platform spanning the full value chain, from compounding to final sterile product. Its MDR-certified products are used in more than 70 countries, supplying hospitals and medical care facilities. Primed also operates HA2, one of Europe’s largest medical sterilisation platforms.

Inflexion is a leading European middle-market private equity firm with €20 billion under management, investing in high-growth, entrepreneurial businesses with ambitious management teams and working in partnership with them to accelerate growth. Inflexion’s flexible approach allows it to make both majority and minority investments in businesses typically valued from €50 million to more than €1 billion. With bespoke teams and dedicated capital, Inflexion’s funds invest across six key sectors from offices in London, Manchester, Amsterdam, Frankfurt, Stockholm, and New York.

Under Inflexion’s ownership, Primed will continue to invest in its core product range, accelerate product development, and drive further growth in its sterilisation business. Inflexion will support management in accelerating international expansion through targeted acquisitions and investments in commercial capabilities, strengthening Primed’s direct access to customers in key markets.

Flor Kassai, Managing Partner and Head of Buyout at Inflexion, commented: “Primed has built a strong reputation through its high-quality product portfolio, integrated business model, and long-standing customer relationships. We are delighted to be partnering with the team to support the next phase of the company’s growth.“

Andrew Neville, Healthcare Partner at Inflexion, added: “Primed has significant opportunities to build on its leading market position. Drawing on our experience helping healthcare businesses scale internationally through organic growth, strategic acquisitions, commercial excellence, and new product development, we look forward to partnering with the management team as they expand the business and extend its global reach.”

Houlihan Lokey served as the exclusive buyside and financing advisor to Inflexion, further strengthening the firm’s track record in the European healthcare and medtech sectors.

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